This Christmas will be soft in Iceland if the conclusion of a panel of consumption specialists is anything to go by—they have determined that this year the traditional lopapeysa woolen sweater will be the most popular Christmas present.
A traditional hand-knitted lopapeysa sweater. Photo by Janne Kristensen.
While a GPS monitor was the most sought-after Christmas present in 2007 at the height of the economic boom, the lopapeysa is a more suitable post-crisis present, Stöd 2 reports.
The lopapeysa has reclaimed its value and popularity and has become a fashion item like never before, the panel, which is comprised of experts from the Bifröst University, reasoned.
But the lopapeysa is not just popular in Iceland. The country’s largest webstore, nordicstore.net, which carries hand-knitted woolen sweaters, reported that its sale of lopapeysa to customers outside Iceland has doubled between 2009 and 2010.
The store’s managers estimate that they will sell at least 1,000 sweaters as Christmas presents this year.
As for Icelandic consumption patterns, the panel also concluded that Christmas shopping will be of similar quantity as last year but due to an increase in prices, the amount will be higher in ISK.
It is estimated that the average Icelander spends almost ISK 40,000 (USD 355, EUR 228) on holiday purchases.